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...Accordia said it hoped to capitalise on Fortress’s hotel portfolio to expand its golf business....
...The deal, which values Accordia at ¥400bn ($3.5bn) including debt, is a bet that golf can help to power Japan’s recovery from the pandemic....
...poised for their biggest bonuses since the financial crisis (BBG) Investors lulled into ‘dreamland’ by central banks, warns Bill Gross (FT) SoftBank-backed fund to acquire Japan’s golf course operator Accordia...
...Its shareholders may have other ideas Accordia to be sold for $760m Email the Lex team at lex@ft.com...
...The tender offer by MBK, which has been endorsed by Accordia’s management, places a 16.9 per cent premium on Accordia’s closing share price on Tuesday....
...Accordia shares were down 12.4 per cent in mid-afternoon trade, but had been off as much as 13.1 per cent....
...Goldman sold out of Accordia years ago....
...A mooted $1.4bn buyout of one of Japan’s biggest golf course owners, Accordia Golf, by South Korea’s MBK Partners would have faced a challenge in the form of many elderly players in Japan abandoning the...
...Kuroda Electric, Mr Murakami and funds related to his family own a 6 per cent stake in Sanshin Electronics, a 6 per cent holding in Excel, a trading company of electronic devices, and a 19 per cent stake in Accordia...
...Feilden Clegg Bradley won in 2008 as part of the team that built the Accordia housing development in Cambridge....
...There are some publicly traded companies that focus on golf – Golfsmith and Adams Golf on Nasdaq, Accordia Golf and Dunlop in Tokyo, Golfzon in South Korea, or Sino Golf in Hong Kong....
...Taiheiyo, which operates 18 golf courses, has Y127.6bn in liabilities and will be rehabilitated with financial support from Accordia Golf, a publicly listed course operator once owned by Goldman Sachs....
...At Accordia Golf, a course management company, Kenichiro Nose says it would be “risky to expect too much” from the recovery, given the headwinds that face a sector suffering an ageing and declining clientele...
...Accordia owns 130 golf courses while PGM owns 126 courses....
...The pictures are from the new book ‘Dwelling: Accordia’ (Black Dog Publishing, £19.95)....
...But by buying more courses, Accordia and Pacific Golf stand to increase market share and benefit from further economies of scale that will raise profitability despite the shrinking market....
...The Accordia development, of 187 dwellings, runs counter to almost all current UK housing in that the city’s planners fought for the developer to use good architects....
...This year’s Building of the Year, Accordia, a high-density housing project on a brownfield site in Cambridge, eastern England, was created by Feilden Clegg Bradley Studios, Alison Brooks Architects and Maccreanor...
...In nearby Brooklands Avenue, the Accordia Living development comprises a mix of 382 flats and houses, with three-bedroom townhouses starting from £589,950 and one-bedroom apartments from £245,950....
...Accordia, a fine housing development outside Cambridge, includes work by Feilden Clegg Bradley, Macreanor Lavington and Alison Brooks architects....
...Average spending by Accordia customers was about Y11,000 compared with more than Y20,000 at other golf clubs....
...because they are concerned that the US investment bank will turn it into a “casual” club, ending its status as one of Japan’s most prominent, and possibly sell it to Goldman’s golfing operations affiliate Accordia...
...Its golf courses were listed as Accordia, in which it still holds a 45 per cent stake, while its hotel assets were put into a real estate investment trust, which was listed....
...Shares in Accordia Golf, which includes 95 courses acquired by Goldman Sachs for a song after Japan’s bubble burst in the early 1990s, lost 5.6 per cent on Wednesday....
...It is understood Accordia could list on the Tokyo Stock Exchange before the end of the year, depending on market conditions. Goldman Sachs on Tuesday declined to comment....
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